Thai Binh licenses additional 24 projects hinh anh 1 TAV apparel company in Nguyen Duc Canh IP, Thai Binh province (Source: VNA)

Thai Binh (VNA) – The northern province of Thai Binh has so far this year lured 24 projects with a total registered capital exceeding 2 trillion VND (88.52 million USD), up 41.2 percent in volume and doubling in value compared to the same period of  2016.

According to the provincial People’s Committee, the province is now home to 934 projects, worth 116.5 trillion VND (5.12 billion USD) in total. Of which, 510 projects have been put into operation with a total investment of over 26.4 trillion VND (1.16 billion USD), creating jobs for over 113,000 labourers.

There are 68 valid foreign direct investment (FDI) projects with a combined capital of 487 million USD and nine others using over 992 billion VND (43.64 million USD) of official development assistance (ODA).
In the first three months of this year, 168 new firms were established, raising the total number of enterprises in the locality to 5,241.

According to the provincial Industrial Parks (IPs) Management Board, as many as 140 out of 161 projects became operational in the local IPs by the end of March, including 38 in the Nguyen Duc Canh IP and 40 in the Tien Hai IP.

Their industrial production value reached nearly 4.2 trillion VND (184.4 million USD), up 12 percent from 2016 and accounting for 22 percent of the yearly target. They contributed 43 percent to the province’s total industrial production value.

The board aims to seek the provincial People’s Committee approval for including the Xuan Hai IP in Thai Thuy district and the Song Tra 2 IP to the list of the nation’s IPs by 2020.

In order to lure more investment, the provincial People’s Committee has urged sectors to improve the local business climate, enhance competitiveness and encourage start-ups and business development.

The locality calls for more investment in its IPs, particularly hi-tech projects.-VNA